National Bonds, the UAE’s savings and investment company, has partnered with the Umm Al Quwain Free Trade Zone Authority (UAQ FTZ) to provide over 9,000 registered company employees access to National Bonds’ savings solutions for retirement planning.
This partnership aligns with the UAE government’s announcement of a new optional system for end-of-service gratuities for private sector and free zone employees. The aim is to protect workers’ savings, which constitute end-of-service gratuities, by ensuring they are securely invested to safeguard their rights and promote the stability of their families.
The partnership will enable entities under the UAQ FTZ’s umbrella and their employees to access National Bonds’ range of flexible savings and investment programs. These programs aim to assist individuals in investing in their future and support companies in retaining employees through initiatives such as ‘Term Sukuk,’ ‘Second Salary Programme,’ ‘Global Saving Club,’ and the ‘Golden Pension Plan,’ specifically designed to enhance end-of-service benefits for employees.
UAQ FTZ Chairman Sheikh Khalid bin Rashid Al Mu’alla stated that the partnership would contribute to the financial wellness of stakeholders and strengthen the free trade zone’s position as a global business hub.
UAQ FTZ General Manager Johnson M. George highlighted that the partnership aligns with the UAE government’s vision of safeguarding workers’ savings and empowers the community to secure their financial futures.
Mohammed Qasim Al Ali, Group Chief Executive Officer of National Bonds, emphasized the UAE government’s emphasis on retirement planning and the role it plays in ensuring financial stability and independence for UAE nationals and residents. The partnership with UAQ FTZ allows National Bonds to reach a wider audience in the UAE and aligns with their commitment to encouraging a savings culture and facilitating sustainable financial development for individuals and businesses.
National Bonds has experienced significant success, with a 9% growth in its investment portfolio to reach AED 14 billion in the first half of the year, driven by over 850,000 customers.
